Finance Committee

Description

Purpose: To advise and assist the Treasurer and Management in the general supervision of the finances for the Community.

Organization: The Committee will be comprised of three-seven residents representing a variety of experience and interests. The Community Board will elect the chair and will be responsible to fill vacant positions.

Responsibilities: To assist in preparation of the annual budget and there after supervise expenditures so that budget allowances are not exceeded. The Board may request for the Committee to undertake projects, from time to time, on their behalf.

Term: Each committee member shall be an owner of Cape Haze Resort. Members will serve two year terms with a maximum of four consecutive years.

Meetings: The Chairperson will be responsible for deciding how many meetings are required throughout the year to successfully plan and oversee its activities. Provide a report to the owners for the Annual Meeting.

Quorum: A majority of members shall constitute a quorum and a majority of members present shall constitute the decisions of the committee.

Relationship to BOD: A Standing Committee approved by the BOD. Minutes will be taken and sent to the BOD.